ECG Good Practice Standards
Annex IV.3: Lookup Table for Determining Early Operating Maturity – Private Sector Evaluations
Published by: Independent Evaluation Group (IEG), World Bank Group
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IFI Support Instrument: |
Project Type A |
Project Type B |
Project Type C |
Project Type D1 |
Project Type D2 |
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Loan / Equity / Quasi-Equity |
(a) The project has been substantially completed; and (b) The project has generated at least 18 months of operating revenues for the company; and (c) The IFI has received at least one set of audited annual financial statements covering at least 12 months of operating revenues generated by the project. |
(a) The IFI has made its final material disbursement (i.e., any further disbursements will be minor in comparison to the overall facility size and not critical to project implementation); and (b) Other parallel financing (if applicable) has also been disbursed; and (c) The IFI has received at least one set of audited annual financial statements covering at least 36 months of operating revenues post-disbursement. |
(a) The IFI has made its final material disbursement (i.e., any further disbursements will be minor in comparison to the overall facility size and not critical to project implementation); and (b) Other parallel financing (if applicable) has also been disbursed; and (c) The IFI has received at least one set of audited annual financial statements covering at least 24 months of operating revenues post-disbursement. |
(a) Where the principal objective is to assist capital expenditure projects in sub-borrowers, at least 30 months should have elapsed following the IFI's final material disbursement to the Financial Intermediary. (b) Where the principal objective is to support the short-term working capital or trade finance requirements of sub-borrowers, at least 24 months should have elapsed following project approval/commitment. |
(a) For all funds, the substantial majority of sub-investments should have been exited; or (b) For private equity funds, at least 36 months should have elapsed following the IFI's final material disbursement to the fund (ignoring disbursements for small follow-up investments in existing client companies and disbursements to cover management fees or other expenses); or (c) For listed equity funds, at least 18 months have elapsed following the IFI's final material disbursement to the fund (ignoring disbursements to cover management fees or other expenses). |
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Financial Guarantee |
(a) The project has been substantially completed; and (b) The project has generated at least 18 months of operating revenues for the company; and (c) The IFI has received at least one set of audited annual financial statements covering at least 12 months of operating revenues generated by the project. |
(a) The IFI has issued the guarantee and is at or near its approved exposure limit; and (b) Other parallel financing (if applicable) has also been disbursed; and (c) The IFI has received at least one set of audited annual financial statements covering at least 36 months of operating revenues post-issuance and disbursement of parallel funding (if applicable). |
(a) The IFI has issued the guarantee and is at or near its approved exposure limit; and (b) Other parallel financing (if applicable) has also been disbursed; and (c) The IFI has received at least one set of audited annual financial statements covering at least 24 months of operating revenues post-issuance and disbursement of parallel funding (if applicable). |
(a) Where the principal objective is to support the short-term trade finance requirements of sub-borrowers, at least 24 months should have elapsed following project approval/ commitment. |
Not Applicable. |
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MIGA Political Risk Insurance |
(a) at least 36 months should have elapsed following the issuance of the PRI guarantee. |
(a) at least 36 months should have elapsed following the issuance of the PRI guarantee. |
(a) at least 36 months should have elapsed following the issuance of the PRI guarantee. |
(a) at least 36 months should have elapsed following the issuance of the PRI guarantee. |
(a) at least 36 months should have elapsed following the issuance of the PRI guarantee. |